Disney is set to reduce the stake it holds in its Russian channel in order to comply with upcoming legislation.

However, reports Vedomosti, it will still retain the same level of revenues as previously.

Disney current holds a 49% stake in its Russian channel, with the remainder owned by YUTV, a holding belong to the entrepreneurs Ivan Tavrin and Alisher Usmanov.

YUTV also controls the channels YU and cable delivered Muz-TV.

Disney has partnered with Tavrin and Usmanov since 2011, when the US company acquired a 49% in 7TV for approximately $300 million. 7TV was subsequently transformed into the Russian version of Disney.

Disney is expected to reduce its stake in the channel to 20%, selling 29% to Tavrin and Usmanov at face value.

The channel is registered in Cyprus through a company named Mo-TV Holding, which will be liquidated.

Significantly, it is understood that Disney will be able to again increase its stake in the channel to 49% should the limit on foreign ownership be lifted.